Express Depreciation of Land Rover Vehicles

Land Rover for Business

One test drive and you’ll quickly appreciate the renowned capabilities of the Range Rover, Range Rover Sport and Discovery. Plus, when you use any of these vehicles predominantly for business, you may qualify for an accelerated tax depreciation under Section 179 of the IRS Tax Code.

Land Rover Tax Advantages

Range Rover, Range Rover Sport and Discovery models all have a gross vehicle weight rating that is greater than 6,000 lbs** which means they all qualify for an accelerated tax depreciation. They can be depreciated up to 60 percent in the first year and fully depreciated in six years. That’s a significant advantage compared to similarly priced luxury cars.

Land Rover Applicable Vehicles & Comparisons

The comparisons below show the tax depreciation advantages for business owners who purchase a new Range Rover, Range Rover Sport or Land Rover Discovery. Please consult your tax advisor on how this information can be applied to your individual business situation.

2018 Range Rover

2018 Range Rover

2018 Range Rover Sport

2018 Range Rover Sport

2017 Land Rover Discovery

2017 Land Rover Discovery

DISCLAIMERS:

Individual tax situations may vary. The information presented was accurate at time of publishing. Federal rules and tax guidelines are subject to change. Consult your tax advisor for complete details on rules applicable to your business.

1. Discovery depreciation can continue at $2,160 in Year Five, and $720 in Year Six, at which point it is fully depreciated. Range Rover Sport depreciation can continue at $2,362 in Year Five, and $1,181 in Year Six, at which point it is fully depreciated. Range Rover depreciation can continue at $3,514 in Year Five, and $1,757 in Year Six, at which point it is fully depreciated.

2. Luxury car depreciation can continue at $1,875 per year for each succeeding year until the vehicle is fully depreciated or sold.

** With Gross Vehicle Weight Ratings (GVWR) of more than 6,000 pounds, these Land Rover models are classified as “heavy SUVs.” Gross Vehicle Weight Rating (GVWR) is the manufacturer’s rating of the vehicle’s maximum weight when fully loaded with people and cargo.

†Comparisons based on Section 179 and 168(k) of the Internal Revenue Code, which allows for additional first year depreciation for eligible vehicles and reflects figures for owners who purchase vehicles for 50 percent or greater business use and place vehicles in service by December 31, 2017.

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Land Rover Louisville

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38.2424143 -85.6281473
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Land Rover Louisville
Land Rover Louisville
4700 Bowling Blvd
Louisville, KY, 40207 United States
(502) 378-3653
https://di-uploads-development.dealerinspire.com/landroverlouisville/uploads/2017/08/LandRoverLouisvilleOGImage.png
Land Rover Louisville 38.2424143, -85.6281473.